TULTEX BOARD GIVES NOD TO BUYBACK
MARTINSVILLE, Va. — Tultex Corp.’s board authorized the repurchase of up to 750,000 common shares, or approximately 2.5 percent of its outstanding common stock.
Tultex, manufacturer of activewear and licensed sports apparel, has about 29.8 million shares outstanding. The Martinsville, Va.-based firm said the shares will be purchased on the New York Stock Exchange or in privately held transactions over the next 12 months.
Tultex stock closed up 1/8 to 4 5/8 on the New York Stock Exchange on Tuesday.
— Fairchild News Service